Selling a house or flat in Bytom? Here is what you should know!
Text from 2018. Laws, rates and prices may have changed since then. Ask an agent
Bytom is among the five largest cities of the Silesian Agglomeration, and, most importantly for people selling a house or flat in Bytom, prices there are lower than in the other cities of the "Big Five", i.e. Katowice, Gliwice, Sosnowiec and Zabrze.
Why are flats in Bytom so cheap?
The average price per sq m of flats on the secondary market in Katowice is around 4,000 PLN, whereas for a flat in Bytom we will pay little more than 2,000 PLN. This results from many factors, the most important of which is the structure of Bytom, where a large number of properties are located on former mining land that is damaged or highly exposed to mining damage. In addition, in the centre the vast majority of flats are in tenement houses that are not in the best technical condition. On top of all this comes the still relatively low interest from investors, linked to the partly lingering image of the Silesian region as having a degraded natural environment and a declining industry that drives a high unemployment rate.
READ ALSO – THE SECONDARY PROPERTY MARKET IN BYTOM
The property market in Bytom
Interestingly, the primary market in Bytom practically does not exist. Analysing websites offering property for sale, you can find only a few primary-market listings for flats or houses. On the secondary market, in turn, there are about 2000 houses and flats, which puts Bytom among the leaders compared with the largest cities in terms of population. Such a high supply of flats and houses in Bytom on the secondary market is an important factor affecting the low price of property in Bytom.
High supply and low demand for flats make selling a flat or house in Bytom quite a challenge. To make an attractive profit from selling a property, you must put in a lot of effort or enlist the help of specialists. Selling a house or flat on your own at too high a price may prove downright impossible, or take as long as several years.
Are you interested in property in Bytom? Please contact our estate agents. The REMAX Gold agency will help you find your dream property!
